A. On and after January 1, 2020, a person may apply for licensure pursuant to the Oklahoma Small Lenders Act; provided, however, no person is authorized to make any small loan pursuant to this act until August 1, 2020, and thereafter; and provided further, such person making any small loan must be in possession of a valid license issued pursuant to this act.
B. Each application for a license shall be in a form established by the Administrator of the Department of Consumer Credit by promulgation of an administrative rule and shall include the following:
1. The legal name, residence and business address of the applicant and, if the applicant is a partnership, association or corporation, the legal name, residence and business address of every member, officer, managing employee and director of the applicant;
2. Every person licensed under this act shall maintain an agent in this state for service of process. The name, address, telephone number and electronic mail address of the agent shall be filed with the application. The Administrator shall be notified in writing by the licensee at least five (5) days prior to any change in the status of an agent; and
3. Other data and information the Administrator may require about the applicant, its directors, trustees, officers, members, managing employees or agents.
Added by Laws 2019, c. 89, § 6, eff. Nov. 1, 2019.
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